(Finance) – The rating agency Standard & Poor’s confirmed the rating of Edison to BBB, Outlook stable, removing the negative creditwatch assigned on 24 May 2022, following a similar intervention on the rating of the parent company EDF extension.
S&P rates Edison’s stand-alone credit rating at bbb, given the company’s resilience to the current energy crisis with profits adequately protected by its vertically integrated business model, the strong performance of its gas businesses and the growth of its contracted generation capacity.
Also, S&P considers Edison highly strategic for its parent company and therefore limits the rating to the level of that of EDF, also recently confirmed at BBB. The rating agency’s assessment of Edison’s highly strategic value to EDF reflects S&P’s view that Italy is a key market for EDF and that Edison is fully integrated into the Group.
The stable outlook reflects S&P’s view of Edison’s creditworthiness and the expectation that growth in generation and procurement activities can offset government measures such as additional taxes and working capital fluctuations.